Order in Council

At Wellington this 18th day of August 2014

Present:The Right Hon John Key presiding in Council

Pursuant to section RA 21(3) and (4) of the Income Tax Act 2007, His Excellency the Governor-General, acting on the advice and with the consent of the Executive Council, makes the following regulations.

These regulations increase, from 6.13% to 6.70%, the rate of interest that applies for fringe benefit tax purposes to employment-related loans. The increase applies for the quarter beginning on 1 October 2014 and for subsequent quarters.